President Donald Trump, center left, shakes hands with Javier Milei, President of Argentina, during the Annual Meeting of the World Economic Forum in Davos, Switzerland, Thursday, Jan. 22, 2026. (AP File Photo)
The Trump administration has said it would set aside $7 billion for loans to support energy, mining and infrastructure projects in Argentina, its latest move to secure energy and critical mineralscloser to home and back the South American country's libertarian president.
The U.S. Export-Import Bank would make up to $7 billion available through 2027 for projects in Argentina, the State Department said, helping companies in the country obtain loans to buy American equipment and hire U.S. firms to expand the country’s railways, pipelines, ports and power networks.
The deal advances U.S. President Donald Trump’s effort to reduce reliance on China’s mineral processing industry, as well as bolstering his ally President Javier Milei, who is betting on oil, gas and mineral exports to transform Argentina’s economy and ease the chronic dollar shortages that have fueled repeated economic crises.
“Working together, the United States and Argentina seek to continue to build on our robust relationship through increased U.S. investment, close security cooperation and aligned values," the State Department said in a statement.
The relationship has already paid dividends for Milei's Argentina: Last year, Washington backed a $20 billion International Monetary Fund bailoutfor Argentina and extended a separate $20 billion currency-swapline to stabilize the Argentine peso. The countries also signed a free trade pactearlier this year.
